MetaTrader is one of the most widely used trading platforms for Forex and other financial markets. The robust features enable traders to be updated in real-time. In the fast-moving contemporary financial markets, success often depends on timely information.
You can set alerts for whenever an order is executed, a price has reached a certain level, or any other significant market event happens. With notifications, you do not need to watch charts all day long. Instead, you should have the platform set up so the information is pushed directly to your phone or computer.
In this guide, we’ll walk you through how to set up notifications for both MetaTrader 4 and MetaTrader 5, why you’d want to use them in the first place, and share some troubleshooting that’ll help if things aren’t going according to plan.
Introduction to Notifications in MetaTrader
MetaTrader 4 and MetaTrader 5 have become synonymous with Forex and CFD trading. Both MT4 and MT5, being used by millions of traders all over the world, are developed with great care to satisfy multiple needs, from the novice to the professional trader. Among the most striking features is the notification system: this system enables traders to instantly receive updates on market conditions, order executions, and price alerts.
Notifications provide a great deal of advantage in terms of not having to monitor your trades all the time. You can set them up according to your preference so that you get only certain alerts. These notifications can be sent to you via email, SMS, or as push notifications directly to your smartphone or desktop. This flexibility in notifications allows traders to remain responsive to market changes, even when they’re away from their trading platform.
The Importance of Setting Up Notifications
The main reason for setting up notifications on MetaTrader 4 and 5 is to enhance your responsiveness. In the volatile world of forex, stock, or commodities trading, even a few seconds can make a huge difference in your profits. By having the platform notify you about market conditions, price changes, or news events, you can act quickly without needing to be on your computer.
Here are a few scenarios where notifications could prove vital:
Price Alerts: You get notifications when the price reaches a certain level, which is important for the execution of limit orders or taking profits at target levels.
Order Executions: Notifications can also be set up to let one know when a trade has been executed, canceled, or modified to keep track of your portfolio without needing to check the platform constantly.
Economic News or Market Events: Trading platforms can also notify you of important economic reports, announcements, or other events that could influence market conditions.
Account Updates: Alerts for margin levels, balance updates, or changes in your account status can help you manage risk and avoid margin calls.
Setting Up Notifications on MetaTrader 4 (MT4)
Setting up notifications on MT4 is relatively simple. Below is a step-by-step guide to walk you through the process:
Step 1: Install the MetaTrader 4 Mobile App
Before setting up notifications, ensure you have the MetaTrader 4 mobile app installed on your smartphone or tablet. This app is available for both iOS and Android devices.
Step 2: Obtain Your MetaQuotes ID
To receive push notifications, you need your unique MetaQuotes ID:
- Open the MT4 mobile app.
- Navigate to Settings.
- Select Chat and Messages to find your MetaQuotes ID.
Step 3: Configure MT4 Desktop Settings
- Launch the MT4 desktop application.
- Go to the Tools menu and select Options (or press Ctrl + O).
- In the Options window, click on the Notifications tab.
- Check the box for Enable Push Notifications.
- Enter your MetaQuotes ID in the designated field.
- Click Test to send a test notification to your mobile device.
- If you receive the test notification, your setup is successful. If not, double-check your MetaQuotes ID and internet connection.
Step 4: Set Up Alerts
To create alerts based on specific price levels:
- Open the chart for the asset you want to monitor.
- Right-click at the price level of interest and select Set Alert.
- In the alert setup window:
- Choose the condition (e.g., Bid greater than a specific price).
- Enter the price at which you want the alert triggered.
- Specify how often you want the alert to sound (once or multiple times).
- In the Source section, write a message that will remind you of this alert (e.g., “EUR/USD at target”).
Step 5: Manage Alerts
You can manage existing alerts by going back to the Alerts tab in the terminal window:
- To modify an alert, double-click it in the list.
- To delete an alert, right-click it and select Delete.
Setting Up Notifications on MetaTrader 5 (MT5)
Setting up notifications on MetaTrader 5 is similar to MT4 but with a few differences due to the platform’s enhanced features.
Step 1: Install the MetaTrader 5 Mobile App
Just like with MT4, download and install the MT5 mobile app from your device’s app store.
Step 2: Obtain Your MetaQuotes ID
Follow similar steps as in MT4:
- Open MT5 on your mobile device.
- Go to Settings, then Chat and Messages, to find your MetaQuotes ID.
Step 3: Configure MT5 Desktop Settings
- Open your MT5 desktop application.
- Navigate to Tools > Options (or press Ctrl + O).
- Click on the Notifications tab.
- Enable push notifications by checking Enable Push Notifications.
- Input your MetaQuotes ID in the appropriate field.
- Click on Test to verify that notifications are working correctly.
Step 4: Set Up Alerts or Expert Advisors (EAs)
To configure alerts:
- Access the Terminal window by pressing Ctrl + T.
- Switch to the Alerts tab.
- Right-click within this tab and select Create to open the alert setup window.
- Define your alert conditions:
- Choose an asset and set conditions for triggering (e.g., price movements).
- Specify how often you want notifications sent.
- If using EAs, ensure they include provisions for sending notifications via SendNotification() function within their code.
Step 5: Monitor and Manage Notifications
Ensure that notifications are enabled on your mobile device settings for MT5:
- On iOS: Go to Settings > Notifications > MT5 and enable Allow Notifications.
- On Android: Open Settings > Apps > MT5 > Notifications and enable them.
Additional Considerations for Effective Notification Management
While setting up notifications is straightforward, managing them effectively is essential for avoiding notification overload:
- Limit Frequency: Set reasonable limits on how often alerts trigger to prevent being overwhelmed by constant updates.
- Prioritize Alerts: Focus on critical price levels or events that significantly impact your trading strategy.
- Test Regularly: Periodically test your notification settings to ensure they are functioning as expected.
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Frequently Asked Questions (FAQs)
Why aren’t I getting email notifications in MetaTrader 4?
- If you aren’t getting email notifications, then you should check your SMTP settings. Check the address of your SMTP server, the port number, and your login and password. Check with your email provider if sending letters via this port is allowed. You can also check the connection by sending a test email right from the MetaTrader 4 terminal: open the “Options” window, go to the “Email” tab.
How do I turn off push notifications in MetaTrader 4 and 5?
- To disable push notifications, open the Options menu in both MetaTrader 4 and 5. In MT4, head to Tools > Options > Notifications and uncheck the checkbox labeled Enable Push Notifications. In MT5, go to Options > Notifications and uncheck the box next to push notification. Also, make sure it is turned off in the settings of the mobile application.
What should I do when my price alert is not triggering?
- If your price alert is not being triggered, first ensure that the price level is correctly set. Double check the alert conditions, including the type of alert-email, push, or sound. Also, make sure your MetaTrader platform is connected to the internet and running in the background while you’re getting the alerts.
Is it possible to get several notifications for one and the same event?
- In MetaTrader, by default, alerts are fired once when the set condition is met. However, if you want to receive repeated notifications, you can set up multiple alerts for the same condition at different levels or use a custom script or expert advisor that will automate this process.
